Venezuela Awards Natural Gas Exploration Rights

Wednesday, November 16, 2005
Venezuela awarded natural gas exploration rights for two areas in the Gulf of Venezuela to Italian energy company ENI SpA, Spanish-Argentine firm Repsol YPF, Brazil's Petrobras and Japan's Teikoku Oil Co., according to a NewsFromRussia report. ENI and Repsol combined to offer a winning bid on one area of $34.4 million, while Petrobras and Teikoku won rights to another area with a bid of $19.5 million. Rights to a third area were awarded to Venezuela-based Vinccler Oil and Gas, which offered a bid of just under $7.4 million, according to the report. The offshore natural gas project involves 29 areas spanning 30,000 square kilometers (12,000 square miles) in the Gulf of Venezuela. The area's reserves have yet to be proven, but they are estimated at some 24 billion cubic ft. (720 million cubic m). The South American country has sold a total of six licenses to explore for and extract natural gas off the western city of Maracaibo, including two in September to Russian oil firm OAO Gazprom and Chevron Corp. In the six offshore zones, Venezuela expects the companies to invest nearly $200 million during the next four years. Source: NewsFromRussia
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Sea Star Line: Equipment Replacement Plan on Track

Company Receives New Refrigerated Containers and Places Order for New Genset Equipment   Sea Star Line, LLC began receiving the first of its new 100 40’ and 45’

Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently

October Imports up 9% at Port of Oakland

Containerized imports shipped through the Port of Oakland were up 9.17% in October from a year ago, the port said, citing the surge as the biggest jump in import cargo volume in six months.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1297 sec (8 req/sec)